Although the shares of American gaming and electronics company GameStop (NYSE: GME) have witnessed a slight decline in the past few days, the once-viral meme stock might still recover and even increase its value by the end of this year, according to the analysis by Google’s generative artificial intelligence (AI) tool Bard.
As it happens, Finbold has sought insight from the newest addition to the AI scene on the future price of GameStop stock by the end of 2023, and it has provided some very comprehensive information, not just in terms of its price but also on the factors that could possibly affect it, from the current standpoint on June 22.
$40 – $60 in the cards?
Specifically, Google Bard has offered an educated guess for a potential trading range of GameStop shares between $40 and $60 by the end of the year, provided that the company shows the ability to “successfully execute its turnaround plan and the broader market remains stable.”
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Taking into account the current price of GameStop stock, which at press time stood at $24.43 per share, it means that Bard is projecting it to demonstrate an increase of around 64% or 145% by the end of the year, respectively.
Among factors that could have an effect on the future price of GameStop’s shares, the AI chatbot singled out the company’s financial performance, management changes, the situation in the gaming industry, investor sentiment, stock market trends, and the overall state of the economy.
GameStop stock price analysis
As things stand, the current price of GameStop stock is $24.43, which represents a decline of 0.61% in the last 24 hours and a 6.04% drop over the previous five days but still an increase of 0.91% on its monthly chart, as per the latest data.
Meanwhile, the price of GameStop shares might still be feeling the effect of the termination of the company’s CEO, Matthew Furlong, on June 5, following the report of the company’s declining revenue in the first quarter of the fiscal year ending April 29.
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